Fidelity Spartan name change

[UpAnchor]

Quote:

Originally Posted by audreyh1 Here is the FAQ from Fidelity that goes over all the details including the issuer - https://www.fidelity.com/cash-manage...ardmember-faqs Some folks report getting letters this week announcing that the new card will be sent out between mid-June and mid-July.

This timing coincides quite nicely with Costco's switch from Amex to Visa. As I've always used my Fido Amex for Costco purchases, I had thought for awhile that I'd use the Amex to buy one or more good-sized Costco cash cards prior to the switchover in order to prolong getting my 2% discount. (I don't carry Costco's house Amex card so wouldn't be subject to receiving their new Visa replacement.) The new Fido Visa eliminates any workaround and I welcome it for this as well as for a number of other reasons.

[target2019]

I hope this doesn't turn out like New Coke.

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Effective July 1, 2016 Fidelity will reduce expenses on 16 index mutual funds (formally Spartan funds) and 11 sector index ETFs.

Among the changes, the ER for the 500 Index fund (premium) and Total Market Index fund (premium) will drop from 0.05% to 0.045%. Their "institutional premium" class offered in some 401k plans will drop to 0.015%.

The ER for U.S. Bond Index Fund (premium) will drop from 0.07% to 0.05%. The "institutional premium" class will drop to 0.03%.

Reference: https://www.fidelity.com/about-fidel...funds-and-etfs

[audreyh1]

Wow. They also introduced large cap growth and value index funds.

I guess there is a fight for the instutional 401K plans now that they are cost conscious due to recent lawsuits.